Trump discovers that markets go down

Donald Trump has tweeted that America is "open for business" and spoken of the country's successful economy, despite the stock market tanking.

Now that the stock market has tumbled nearly 2,000 points in two trading days and is in negative trading territory for 2018, the White House has discovered that what goes up also goes down: "Look, markets do fluctuate in the short term", said White House deputy press secretary Raj Shah.

One White House aide told CNN'sJeff Zeleny that it was jarring to see Fox ditch the President's speech when the market free-fall hit 1,000 points.As Trump slammed Democrats in Blue Ash, Ohio, and celebrated robust job creation along with rising wages, the Dow Jones Industrial Average tanked 1,600 points at one point, before recovering on a volatile day to a record loss of a 1,175 point tumble, or 4.6%. Foreign markets plunged overnight.

After the speech Sarah Huckabee Sanders, the White House press secretary, said Trump is focused on "long-term economic fundamentals" and these are "exceptionally strong".

She adds that tax cuts Trump recently signed into law and his focus on eliminating regulations will further enhance the economy and continue to increase prosperity for the American people.

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In recent months, as the stock market has reached record highs time and time again, President Donald Trump has bragged over and over on the numbers, seemingly taking credit for the gains.

"You live by the sword, you die by the sword, to a certain extent", he said.

Even the President's favorite news source, Fox News, was the bearer of bad tidings for Trump, with a banner reading "DOW, S&P turn negative for the year".

Former White House chief strategist Steve Bannon won't appear before the House Intelligence Committee Tuesday, escalating a tense standoff with the panel.

"Somebody said 'treasonous.' I mean, yeah, I guess". Reuters reported this month that the administration's plan will call for US$200 billion in new federal funding, offset by unspecified spending cuts, including US$100 billion in cost-sharing payments for state and local projects and US$50 billion dedicated for rural projects. "That is not how democracy works".

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